Kin and Carta witnesses 'continued strong demand' in H1

10th Feb 2022 08:50

(Sharecast News) - IT service management firm Kin and Carta said on Thursday that it had experienced "continued strong demand" throughout the first half of its trading year.
Kin and Carta said net revenues from continuing operations were pegged to be roughly £85.0m, while adjusted operating margins for the six months ended 31 January improved to approximately 7%, up from 3% a year earlier.

As far as the full-year was concerned, the London-listed firm now expects higher organic net revenue growth from continuing operations of 35-40%, up from 30%.

Kin and Carta added that it expects similar seasonality to prior years, with higher net revenue and adjusted operating margins in the second half compared to the first.

Chief executive J Schwan said: "Our trading performance continues to improve with strong first-half revenue growth and operating margin expansion.

"As in previous years, our second half is expected to show a stronger performance with higher net revenue levels and improving operating margins."

As of 0850 GMT, Kin and Carta shares had shot up 9.33% to 235.05p.